A Daily Agenda for Excellent Mental Health15 February, 2016 by Paula Rodriguez in Forex Lifestyle
Excellent mental health contributes to a successful and fulfilling forex trading journey
In a forex trading lifestyle, it is essential to take care of both physical and mental strength. Much like a workout routine, forex traders need to keep fit with a daily agenda for excellent mental health. With a fast paced market, the best way to deal with any emotional distress is to practice good mental health everyday. Through optimized mental well being, forex traders can become more self-sufficient and better equipped to face any difficult trading scenario.
Excellent mental health deals with your emotional and psychological state of mind. It is the ability to acknowledge realities or cope with hardships while still being productive and positive. When forex trading, mental well being is applied as you plan, execute, act and react in certain trading activities.
According to Mental Health Foundation, mental health also evolves as you experience different stages in life. Whether you are new or novice to trading, excellent mental health can help enhance performance throughout the whole process.
How mental health affects traders
Forex trading is a discipline that is carried out by a trader’s current mental state. Since traders regularly take on the risks of managing their capital, mental health tends to have a big influence on trading outcome. When dealing with losses and opportunities, a trader’s mental health can either improve or decrease results. Even with a reliable strategy, a trading plan can lose edge if a trader does not have strong mental well being.
The constant exposure to monetary risks usually causes stress, frustration and self-criticism. To survive the challenges of the business, it is important to understand the significance of excellent mental health. Here are 10 advantages of optimizing mental health when forex trading:
- Aids in proper execution of a trade along with the right frame of mind
- Allows decisions to be made with clear judgement
- Enables traders to practice the good balance between work and rest
- Keeps traders focused and self-resilient during a long trading session
- Provides contentment even in the smallest of earnings
- Develops good coping attitude in order to handle adversity
- Guides traders to make smarter choices in trading and in life especially in regards to health
- Improves self-confidence and minimize self-doubt or negative self-talk
- Creates a good environment for open mindedness when learning new skills
- Helps build and sustain a fulfilling career in forex trading
A forex trader’s daily agenda for excellent mental healthTake advantage of excellent mental health for forex trading with a daily agenda. Click To Tweet
For successful traders, excellent mental health is part of the bigger picture in a forex trading career. Having excellent mental health requires good habits and positive thoughts. It leads to productivity and effectiveness when studying the market or executing a trade.
Just like physical well being, you have to perform exercises everyday to keep the mind mentally strong and fit for trading. To have excellent mental health as a forex trader, here are the best practices to include in your daily agenda:
Wake up to possibilities, not your trading schedule
Best exercise to start the day
For better mental well being, practice waking up to the opportunities of the day instead of what’s first on the agenda. Having a solid work schedule is great for self-discipline. In fact, part time traders with full time jobs can benefit a lot from keeping an efficient daily routine. But the moment this routine becomes stressful, it is time to exercise the mind to think differently.
It is beneficial to have a clear trading schedule in order to be more productive. Despite being a great tool for success, following a fixed daily schedule can also become taxing for forex traders. To avoid the stress of a strict routine, do your best to stay relaxed about the day ahead. Though you will still need to stick to your daily schedule, practice keeping the day open to possibilities and positive thoughts.
As soon as you wake up, try to worry less about your to do list. Instead, try starting the day by listening to a great playlist or an inspirational podcast while getting ready. You may also ease into the day by thinking about weekend activities rather than tasks.
The most effective way to wake up without stress is to get the right amount of sleep. This not only improves physical well being but also prepares your mind for a productive day of work. Sleep allows the brain to process information and rejuvenate from the day before.
Create an inspiring and goal-oriented mantra for every activity
Best exercise throughout the day
With an inspiring and goal-driven mantra, you can take care of mental well being as well as advance your forex trading career. Inspiration is a great tool to encourage hard work and lighten the mind. In a tense environment like trading, inspiring mantras can be effective in promoting excellent mental health. According to Mental Healthy, little bits of inspiration can do better for mental health especially during rough times.
A successful trader should always have a clear goal when forex trading. Having a goal in mind is a helpful tool when making decisions or planning a trading strategy. Goal oriented traders tend to see the realities of their trades and how they lead to the desired output. This prevents the mind from overthinking the future or dissatisfaction if things fall short.
When faced with challenges of forex trading, an inspiring and goal-oriented mantra is the perfect motivational tool. Instead of having instant anxiety from a difficult situation, take a deep breath and practice your mantra. Make sure to personalize it according to what inspires you the most. Check out Healthline’s 15 Inspirational Mental Health quotes to start!
Having a mantra goes hand in hand with taking breaks from the sedative nature of forex trading. To immediately feel for more calm, move from your desk and close your eyes while repeating your mantra. This exercise is also great to lessen eye strain.
Get creative when taking care of yourself
Best exercise for mid-day
The idea of a rest day can be relaxing to any busy forex trader. But if you only have less than a day to spare, there are many things you can do to improve mental health that don’t take too much time. These little efforts can help de-stress and increase productivity.
When taking on too much work, physical stress can also influence attitude towards work. The best daily exercise to manage this is to find simple and creative ways to take care of yourself. Everyone has their own preference and ideas on how to indulge in a simple way. These ideas should give a sense of relief or spark inspiration especially during the middle of trading. Whether it is having a quick nap or flipping through an interesting magazine, any small way to feel at ease promotes excellent mental health.
Mental exercise:Get creative and try different ways to promote excellent mental health while trading. Click To Tweet
Taking care of yourself can be practiced every day through simple changes in methods of relaxation. You don’t need book a spa day or a trip. Find simple ways to relax the mind from trading. Try listening to nostalgic music or go outside for some fresh air. If you need interesting ways to relax, check out Creative Ideas for Stress Management to start.
Forex trading is a desk job. This can eventually strain the body and affect mental health. To ensure mental relaxation, your body also needs to be in good shape. Get creative by spending a day in the park or take kickboxing classes to ease tension for both body and mind.
Stay away from bad emotional habits
Best exercise throughout the day
Emotions can sometimes get in the way of a successful trade. Most of the time, these emotional feelings towards an execution can clash with your trading strategy. To stick to the plan, correct bad emotional habits for better mental well being and profitable trades.
It is not healthy nor profitable to be driven by emotions when forex trading. This habit creates a mental state that gets you too attached to your trades and decreases room for performance growth. Forex traders have to work with trades that may or may not deliver positive results. Constant exposure to risks like these can have its mental toll and result in emotional trading. By exercising better habits, the journey of forex trading will be less stressful and more enjoyable.
Trading without emotions is a skill that requires plenty of practice. Being one of the more difficult problems for mental health, you will need to learn more about your trading habits. Find out everything you need to know in Bad Habits of Unproductive Traders.
One of the best ways to physically stop yourself from doing a bad habit is to step out of the situation. Take a break from your forex trading station and maybe exercise your mantra. If you cannot step away from your desk, try doing desk exercises to give relief to the mind and body.
Make time to meditate
Best exercise for the end of the day
For excellent mental health, include meditation in your daily agenda. Forex traders work in a tense market with odd hours that can trigger plenty of emotional hazards. In fact, the emotional aspect of trading is already a given. The most effective exercise to fight stress and increase mental health is meditation. In Finance Magnates’ The Surprising Benefits of Meditation for Trading, anxiety levels go down by 39% with a few minutes of daily meditation. Meditation also benefits physical state by boosting the immune system.
Best benefits of meditation for forex traders:
- Paves the way for excellent mental health
- Reduces trading anxiety and stress
- Improves focus and critical thinking
- Increases energy level for efficient executions
- Promotes better learning skills in the long run
Meditation is a great way for forex traders to de-stress. With daily meditation, you can reflect on the day as well as promote a calm mind after trading. It also leads to personal growth and boosts trading performance.
Start optimizing mental health
Optimized forex trading performance relies on both physical and mental health. Whether you decide to practice a few or all these tips, make sure you do them daily. Much like an exercise routine, becoming an expert in maintaining strong mental well being requires consistency and discipline. The only way to optimize excellent mental health is to incorporate these practices into your daily agenda.
Mental health plays a valuable role in a forex trading career. Over time, the nature of the business can have a significant effect on mental well being. By nurturing mental health, forex traders can fight common concerns like depression and anxiety.
According to PsychGuides.com, it is difficult to self-diagnose your current mental state. Think about how you currently handle stress or how you make decisions. If you feel concerned about your mental well being, the best thing to do is to visit a certified mental health professional and take it from there.Excellent mental health can prepare traders for the possibility of trading losses or extreme fatigue. Click To Tweet